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Topic

Platinum council backs Japan’s ‘Fruit of Platinum’ sweet spot

By: Martin Creamer     7th July 2016 Following May’s move to boost platinum bar and coin availability globally, the World Platinum Investment Council (WPIC) on Thursday threw its promotional weight behind investors in Japan’s flourishing ‘Fruit of Platinum’ exchange traded fund (ETF). The tie-up is the latest in a series of... 

ISS recommends shareholders vote for incumbent Eastplats board

By: Henry Lazenby     22nd June 2016 Eastern Platinum (Eastplats) has reported that independent proxy advisory firm Institutional Shareholder Services (ISS) had recommended that shareholders vote to keep the incumbent Eastplats board, amid a heated proxy contest. Hong Kong-based company Ka An Development, which had acquired a 13.79%... 

Bright interims, better output lift Lonmin share price

By: Martin Creamer     16th May 2016 The share price of platinum mining company Lonmin rose sharply on Monday on net cash generation, higher platinum sales and the expectation of platinum demand from the automotive and chemical sectors remaining firm. Lonmin’s share price rose 17.57% to R42.56 a share in early JSE trade after Lonmin... 

Amplats refined platinum output halved

By: Martin Creamer     21st April 2016 The refined platinum production of platinum mining company Anglo American Platinum (Amplats) halved in the three months to March 31, when metal-in-concentrate output rose 4% . Refined production plummeted 52% to 261 000 oz on a Section 54 work stoppage that closed the Precious Metals Refinery for... 

Sibanye investing R3.9bn in gold mines

By: Martin Creamer     20th April 2016 Mining company Sibanye Gold is forecasting a capital expenditure of R3.9-billion ($250-million) on its gold assets in its 2016 financial year. Sibanye CEO Neal Froneman told the European Gold Forum in Zurich on Wednesday that capital investment of R1.6-billion ($115-million) had been approved... 

Sibanye reshuffles to bring platinum, energy into pack

By: Martin Creamer     18th April 2016 Gold-mining company Sibanye has revised its organisational structures in anticipation of imminent entry into platinum mining. As it becomes a multi-commodity business, Sibanye headed by CEO Neal Froneman will be restructured into separate, commodity specific divisions focused on operational... 

Innovative power generation projects share award

By: Simon Sonnekus     15th April 2016 To encourage the innovation of a system that generates and transmits power independently, this year’s African Energy Awards, held in Sandton, Gauteng, last month, awarded the innovation prize to a urine-powered battery system and an Eternity power thermal harvesting project. Menlopark high... 

RBPlat puts losses behind it with sturdy quarterly performance

By: Martin Creamer     14th April 2016 January 1 to March 31 has proved a solid three months for Royal Bafokeng Platinum (RBPlat). The Johannesburg Stock Exchange-listed platinum mining company, controlled by the 100 000-strong Bafokeng community, used operational flexibility, stability and strategy to put the headline-per-share... 

Very positive long-term outlook for platinum – Hinkly

By: Martin Creamer     8th February 2016 The outlook for platinum demand in the next five years is very positive, Anglo American Platinum executive head marketing Andrew Hinkly said on Monday. Speaking at the 2016 Investing in African Mining Indaba, Hinkly said that the continued requirement for clean vehicle emissions would continue... 

Mines body sees bleak 2016 for Zim mining

By: News24Wire      11th January 2016 The Chamber of Mines of Zimbabwe (COMZ) is anticipating little improvement in production and prices for most metals mined in the country, despite an easing in power supplies after Zimbabwe inked a deal to import power from Eskom. Following media reports in Zimbabwe that the power import deal... 

Call to action for review of crippling Davis tax proposals 

By: Martin Creamer     22nd October 2015 The South African mining industry has until October 31 to comment on the first round of recommendations of the Davis Committee on Tax, several of which are seen as having the potential to fundamentally change South Africa’s mining landscape for the worse. Many commentators are suggesting the... 

Union mine sale restarted, offer in for Pandora – Amplats

By: Martin Creamer     10th September 2015 Platinum mining and refining company Anglo American Platinum (Amplats) had recommenced the process to dispose of its Union Mine and an offer had been received for its interest in the Pandora Platinum joint venture. “We didn’t get to a landing on a sale with the partners we were talking to,”... 

Strategic partnership geared to achieve midtier status

By: Dylan Stewart     4th September 2015 Platinum group metals (PGM) mining company, Wesizwe Platinum, whose anchor project is the Bakubung platinum mine, in the North West, aims to become a significant midtier multicommodity mining company, says Wesizwe CEO Jianke Gao. 

Implats shares fall on R4bn equity raising plans 

By: Martin Creamer     3rd September 2015 The share price of mining company Impala Platinum (Implats) first fell heavily and then recovered considerably after the company announced plans to raise R4-billion equity capital in an accelerated bookbuild. Reporting 58% lower earnings a share to 36c in the 12 months to June 30, in spite of key... 

1 000 platinum-powered Hyundais in UK this year – Amplats 

By: Martin Creamer     25th May 2015 Fuel cell electric vehicles will allow platinum mining to build its future in a truly sustainable way on the back of zero exhaust emissions and the use of the world’s endless supply of hydrogen as a fuel source, Anglo American Platinum (Amplats) CEO Chris Griffith has told Platinum Week 2015 in... 

Power problems offering platinum huge demand opportunity  

By: Martin Creamer     2nd April 2015 The electricity crisis is offering South Africa’s demand-hungry platinum mining companies a major opportunity to stimulate the offtake of platinum. State power utility Eskom’s loadshedding programme is elevating power-generating fuel cell technology - with platinum at its heart - to a new... 

Zim platinum export tax puzzles Aquarius, Implats

By: Natalie Greve     30th January 2015 A platinum export levy announced by the Zimbabwe government in 2013 remains mired in uncertainty, after the planned deferral of the tax to 2017, was not provided for in the country’s 2015 Finance Bill, gazetted on January 9. Platinum majors Impala Platinum (Implats) and Aquarius Platinum – both... 

Impala Platinum selling shares to workers in R1.1bn deal

By: Martin Creamer     11th December 2014 South Africa’s second-largest platinum mining company is selling shares in the company’s primary operational subsidiary to employees in a R1.1-billion deal. The JSE-listed Inplats said on Thursday that it had concluded a vendor-financed equity transaction with Impala Platinum Limited, which owns... 

Mineworker numbers set to fall 8% a year – Teba 

By: Martin Creamer     3rd December 2014 The number of mineworkers employed in gold mining and platinum mining in South Africa is expected to decline by about 8% a year in the next two years, says Teba Limited CEO Graham Herbert. Herbert, who spoke to Mining Weekly Online in the attached video interview, says his company – which is... 

Aug PMI rebounds, but remains below key 50-pt level

By: Natalie Greve     1st September 2014 The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) rose by 3.1 index points to 49 in August, signalling a return to more normal manufacturing output levels following months of production disruptions owing to industrial action in the platinum mining and the metals and engineering... 

Union leader speaks on labour alignment at Royal Bafokeng Platinum 

By: Martin Creamer     8th August 2014 The alignment of labour with company objectives at the black-owned and black-led Royal Bafokeng Platinum (RBPlat) is proving mutually beneficial for mineworkers and management. National Union of Mineworkers (NUM) branch chairperson Papi Moteti, who spoke to Mining Weekly Online in a video... 

Stable Royal Bafokeng Platinum lifts production, revenue, earnings

By: Martin Creamer     5th August 2014 Black-controlled platinum mining company Royal Bafokeng Platinum (RBPlat), which managed to maintain operational stability in a sector wracked by violent strikes, on Tuesday reported increased production, revenue and earnings. Production rose 3% to 134 229 platinum group metal (PGM) ounces,... 

PMI contracts for fourth consecutive month on strikes

By: Natasha Odendaal     1st August 2014 The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) has contracted for the fourth consecutive month, signalling the manufacturing sector’s continued subpar performance. The index “expectedly” fell from 46.6 in June to 45.9 index points in July, owing to the month-long National Union... 

Focus on fully mechanised systems rather than retrofits, advises consultant

By: Leandi Kolver     16th July 2014 South Africa’s platinum mining sector would benefit more from implementing fully mechanised systems, rather than retrofitting existing systems or making use of hybrid systems, Tomahee Consulting senior consultant Alastair Macfarlane said on Wednesday. Speaking at the Southern African Institute of... 

Platinum companies considering AMCU’s latest wage proposal

By: Martin Creamer     4th June 2014 South Africa’s three biggest platinum-mining companies will resume a Ministerial meeting on Thursday after considering the latest unpublished wage proposal of the Association of Mineworkers and Construction Union (AMCU). New Mineral Resources Minister Advocate Ngoako Ramatlhodi said AMCU had... 

Platinum producers refute AMCU tax, wage evasion claims

By: Leandi Kolver     30th May 2014 Platinum miners Anglo American Platinum (Amplats), Impala Platinum (Impats) and Lonmin on Thursday strongly refuted allegations by Association of Mineworkers and Construction Union (AMCU) negotiator Brian Ashley that the platinum mining companies “might be guilty of tax and wage evasion”. Ashley... 

$100m Zimplats refinery refurbishment to start in July

By: Leandi Kolver     23rd May 2014 Zimbabwe-based platinum producer Zimplats, in conjunction with platinum mining companies Mimosa and Unki, would start the refurbishment of Zimplats’ Selous-based base-metal refinery (BMR) by July this year and recommission the facility over a 24-month period, Zimplats CEO and Zimbabwe Chamber of... 

Platinum execs without incentive pay since 2008 – Griffith

By: Martin Creamer     13th May 2014 Most executives in platinum mining had not received long-term incentive pay for the last six years because of the poor state of the industry, Anglo American Platinum (Amplats) CEO Chris Griffith said on Tuesday. Questioned by Radio 702 talk-show host John Robbie on his reported salary of... 

Chamber condemns ‘brutal’ murder of platinum mineworkers

By: Martin Creamer     13th May 2014 The Chamber of Mines of South Africa on Tuesday condemned “in the strongest terms” the “brutal” murder of two mineworkers in the Rustenburg area. This denunciation follows the condemnation of acts of violence against employees intent on returning to work by South Africa’s three major platinum... 

Uphold overwhelming wish of workers to return, pleads Lonmin

By: Martin Creamer     12th May 2014 The overwhelming wish of employees to return to work should be upheld, Lonmin CEO Ben Magara pleaded on Monday as the massive strike in the platinum belt entered its 16th week. Magara said that the immediate focus was to get the business back up and operational but that this was predicated on... 

Mechanising Leeuwkop bad news – UDM 

By: Sapa     28th March 2014 Mechanising the Leeuwkop mine near Brits in North West is bad news for South Africans desperate for work, United Democratic Movement leader Bantu Holomisa said on Friday. "The [platinum sector] strike has gone on for too long and inevitable retrenchments are looming," Holomisa said in a statement. 

Miners, workers, govt recommit to stabilising strike-hit SA mining 

By: Martin Creamer     27th March 2014 The representatives of mining companies, labour and government on Thursday recommitted their organisations to soldiering on together to stabilise the strike-hit South African mining industry. Outgoing Deputy President and one-time mineworker Kgalema Motlanthe again led the quarterly meeting at... 

Implats embarks on mechanised mining strategy 

By: Martin Creamer     3rd March 2014 JSE-listed platinum mining company Impala Platinum (Implats) has embarked on a strategy to research and develop modern mechanised mining methods and to expand them to all parts of the group. Implats CEO Terence Goodlace ruled out the perpetuation of current mining methods and promised regular... 

Steadying SA mining sector bolsters AECI’s FY earnings

By: Natalie Greve     25th February 2014 Increased demand for chemical explosives by the South African mining sector drove speciality group AECI’s earnings for the year ended December 31 northwards, pointing to a stronger minerals industry than that of 2012. However, strikes in the platinum mining industry this year had already impacted... 

Strike-hit Northam Platinum slumps to first operating loss since 1998

By: Martin Creamer     21st February 2014 JSE-listed platinum mining company Northam has recorded its first operating loss since 1998 after its Zondereinde mine was hit by an 11-week strike. The traditionally solid performer, headed by retiring CEO Glyn Lewis, slumped to a total comprehensive loss of R92.7-million for the six months to... 

Narrow-reef precious metals mining at a crossroads

By: Martin Creamer     21st February 2014 Mechanical engineer Rod Pickering spent 20 years at the Chamber of Mines Research Organisation (Comro) running the stoping technology laboratory, the part of the now-defunct Comro that focused on hard rock, narrow-reef mining. After leaving Comro in 1996, he spent another 18 years running his own... 

BNC smelter upgrade important short-term focus for Mwana 

By: Leandi Kolver     29th January 2014 The most important short-term focus for Aim-listed Mwana Africa’s Bindura Nickel Corporation (BNC), in Zimbabwe, was to get the operation’s smelter running once again, CEO Kalaa Mpinga said on Wednesday. BNC owned and operated the Shangani and Trojan nickel mines, as well as the Bindura smelter... 

New blasting, smelting methods available to boost platinum – Robinson 

By: Martin Creamer     23rd January 2014 The introduction of new methods of blasting and smelting have the potential to boost platinum mining significantly, says research commentator Dr R E (Robbie) Robinson. Robinson tells Mining Weekly Online in the attached video interview that the introduction of selected blast mining (SBM) in... 

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